(Posted August 16) -- This week President Trump announced some unilateral measures he was taking on the regulatory/administrative front to try and remove some of the road blocks to speedier approvals for infrastructure spending projects. This is intended to precede a coming legislative measure--one of Trump's key policy initiatives--that would more substantially fund a meaningful national program.
Despite the importance of his announcement, the news media wanted only to continue beating him over the head over his insistence that ANYBODY who committed illegal acts of violence last weekend in Charlottesville, Virginia this past weekend be held accountable.
Naturally, therefore, doubts are increasing anew over whether anything will get done in Washington, given that the overriding agenda on the part of much of the Establishment is to insure that Trump does not succeed.
But when it comes to the move toward a major infrastructure spending initiative--which, as the president pointed out in his ultimately-hijacked presser, enjoys bipartisan political support--there is a MUCH larger need.
Simply put, without this major economic initiative, the job of the Federal Reserve will be much harder going forward to keep our reinflated asset markets afloat.
In a "preview" of sorts to my coming series on Understanding the Game, I explained on this past weekend's K.E. Report the specific reasons WHY an infrastructure program is needed; not only to fix roads, bridges and the like. . .not only to provide some better jobs for Americans. . .BUT TO CREATE YET ANOTHER SUB-SET OF THE BROAD ECONOMY FROM WHICH NEW "MONEY CREATION" CAN BE BORN.
This discussion was in two parts, which we've archived: